In One Chart, Here's Why Ultra-Rich People Are Buying Up Property In London

Joe Weisenthal

Tuesday

Oct 29, 2013 at 12:01 AMOct 29, 2013 at 3:41 AM

Yesterday we wrote about the geographic makeup of people who were buying property in London.

There were some fascinating trends. Most notably, lots of high-end London homes are being bought up by the Chinese... but the REALLY high-end homes are being bought up by the Russians, and other Eastern Europeans.

So why's everyone buying in London?

This chart from Deutsche Bank and Knight Frank sheds some light.

Basically, it's a combination of existing networks in the city, geopolitical concerns elsewhere, a weak pound, and easy financing.

Not of particular concern: UK taxes or government intervention in the market.

See Also:

How London Is Totally Separate From The Rest Of The UK In One Incredible ChartHere's Who's Buying Those Insanely Expensive Homes In LondonUK GDP Posts Strongest Growth Since 2010